WASHINGTON  Although candidates for this years general election have raised
$13 million more and spent $11 million more than their 96 counterparts, this
represents only a modest 2% increase in financial activity.

Pre-election reports filed by U.S. Senate and House candidates in next Tuesdays
elections bring their fundraising totals to $575.3 million. Spending from January 1, 1997,
through October 14, 1998 rose to $480 million. Candidates began the last 20 days of the
campaign with $179 million cash-on-hand.

Factors which may have influenced the slowdown include fewer open-seat races and fewer
competitive districts. Activity in open-seat races, which are typically the most
competitive and most expensive, is down by nearly half when compared to the last election.
There are only five open-seat Senate races this year rather than the record-setting 13 in
1996, and only 32 open-seat House races, compared with 51 two years ago. One indication of
the decline in competitiveness can be found in median activity of House Democratic
challengers - median spending is down 25%, and median receipts are down 10%.

In the 34 Senate races, 83 candidates raised $215 million and spent $195 million. This
activity represents a 14% increase in fundraising over 96 levels and a 16% increase
in spending. Individuals contributed $135 million, PACs $40 million, and the candidates
themselves $23 million. Senate candidates entered the last days of the campaign with $46
million cash-on-hand.

In House races, 928 candidates raised $361 million and spent $285 million. This
represents a decline of 3% in receipts and 5% decline in spending over the last election
cycle. The breakdown of their funds shows $195 million from individuals, $128 million from
PACs, and $22 million from the candidates. They had $133 million on hand for the final
weeks before the election.

Fifty-seven percent of the funding for this years general election candidates
came from individual contributions ($329 million), 29% from PACs ($167 million), and only
8% from the candidates themselves ($46 million), mostly in the form of loans.

Tallies for all Congressional candidates From January 1, 1997, through September
30, 1998, (including primary losers and Special Election activity) reveal a total of $640
million raised and $498 million spent. These figures represent a 4% increase in
fundraising over 96, and a 2% increase in spending.

Information attached to this release offers overall summary data by political party, as
well as by candidate status (incumbent, challenger, open-seat), comparable pre-general
election summary figures for the past five election cycles, a six-year overview of each
Senate campaign, listings of each House race, and candidate rankings. A special table is
included with median receipt and disbursement figures for various categories of House
candidates, and because of increased interest in the amounts of personal funds, a ranking
of those campaigns with the largest amounts.

This release and the data contained in it are also available on the Internet. The FEC
address is http://www.fec.gov.